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Company name

Inversiones Hidroeléctricas S.A. (“IHSA”)

Project number

NI3847A-01

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E&S category
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Country

Nicaragua

Sector

Energy

Status

Completed

Disclosed date

03/16/2012

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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04/17/2012

Approval date

05/22/2012

Signed date

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Sponsoring entity

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Investment Operations Department Contact

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Investment type

Syndicated amount

USD $ 6,000,000

Financing amount

USD $ 8,000,000

Currency

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Project scope and objective

The purpose of this IIC operation is to provide financing for the construction, start-up, and operation of “El Diamante,” a 5-megawatt run-of-the-river hydroelectric power plant. The project would be located on the Upá River, in the municipality of San Ramón, Matagalpa Department, and would connect to the grid via a 3.5-kilometer medium-voltage power line to the village of El Jobo.


The main objective of the El Diamante hydroelectric plant is to supply Nicaragua’s electric power grid with electricity at a reasonable cost, by means of this run-of-the river hydroelectric plant—a clean, renewable energy source. The project qualifies for registration as a Clean Development Mechanism (CDM) project.


IHSA is a Nicaraguan company created for the express purpose of developing the El Diamante hydroelectric power plant. During 2011, IHSA initiated pre-development activities for the plant and is expected to break ground on the plant’s construction in the second half of 2012.


Hemco, a Nicaraguan enterprise, works in conjunction with other, related companies in the areas of mining exploration and extraction, hydroelectric power generation, and forestry development projects.


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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

ENVIRONMENTAL AND SOCIAL REVIEW

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

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PHONE NUMBER

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POST OFFICE ADDRESS

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IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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